In Week 21, we find the global supply chain responding to newly announced Section 301 tariffs on, ongoing port congestion in China, and strides at the Port of Baltimore to reopen for container vessel traffic by the end of May.
SECTION 301 TARIFFS
Following the in-depth review by the USTR, President Biden is implementing measures against China’s trade practices. To urge China to stop its unfair practices related to technology transfer, intellectual property, and innovation, the President is ordering tariff hikes in key sectors like steel, aluminum, semiconductors, electric vehicles, batteries, critical minerals, solar cells, ship-to-shore cranes, and medical products.
PANAMA CANAL OPERATIONS
The Canal will implement significant increases in transit capacity, raising the total number of daily transits from 24 to 32.
PORT CONGESTION: CHINA
Port congestion in China has gradually worsened in recent weeks. Equipment scarcity at some Chinese ports is causing additional congestion and delays.
PORT OF BALTIMORE RECOVERY EFFORTS
Officials are readying for vessel traffic by the end of May. With this positive development, carriers are expected to start calling Baltimore again beginning Week 21.
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